Bank of Canada Holds Rates Steady Acknowledging Economic Slowdown
Posted on Sep 07, 2023
With last Friday's publication of the anemic second-quarter GDP data, it was obvious that the Bank of Canada would refrain from raising rates at today's meeting. Economic activity declined by 0.2% in Q2; the first quarter growth estimate decreased from 3.1% to 2.6%.Today's press release announced, "The Canadian economy has entered a period of weak...
Greater Vancouver Real Estate Update - August 2023
Posted on Sep 05, 2023 in Market Update
Seasonal slowdown brings price stability to Metro Vancouver
As summer winds to a close, higher borrowing costs have begun to permeate the Metro Vancouver housing market in predictable ways, with price gains cooling and sales slowing along the typical seasonal pattern.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home s...
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home s...
Rate Hikes Are Definitely Off The Table
Posted on Sep 03, 2023 in Economics
The Canadian economy weakened surprisingly more in the second quarter than the market and the Bank of Canada expected. Real GDP edged downward by a 0.2% annual rate in Q2. The consensus was looking for a 1.2% rise. The modest decline followed a downwardly revised 2.6% growth pace in Q1. (Originally, Q1 growth was posted at 3.1%.) According to the l...Canadian Monthly Economic Growth Q2 - 2023
Posted on Sep 03, 2023 in Economics
Canadian real GDP fell by 0.2 per cent from the prior month in June, following a 0.2 per cent increase in May. The decline was led by weak wholesale trade, which contracted 3 per cent. Construction activity contracted for the second consecutive month, falling 0.6 per cent primarily due to lower residential building construction (which has been down...Things to do in Vancouver BC - September 2023
Posted on Aug 31, 2023 in Community
Looking for things to do in Vancouver while you are on Vacation this month, or maybe you're looking to entertain the family over the labour day long weekend. Check out these fun things going on in the city:1. Vancouver International Film Festival (VIFF)
Join the Vancouver International Film Festival, running from September 7th to September 17th, 202...BC Housing Market Resilient Despite High Rates - Third Quarter Housing Forecast Update
Posted on Aug 29, 2023 in Market Update
The British Columbia Real Estate Association (BCREA) released its 2023 Third Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales in BC are forecast to decline 2.8 per cent to 78,640 units this year. In 2024, MLS® residential sales are forecast to post a modest rebound, rising 6.1 per cent to 83,425 units. “The...
